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PRINT THIS PAGE IK merges new portfolio company Bonna Sabla with Consolis21/09/2005. Source: AltAssets. 
 Industri Kapital, a European private equity firm with Nordic roots, has merged its recently acquired French company Bonna Sabla with Finish Consolis, which has been in IK's portfolio since 1997.
IK announced last month that it had agreed to acquire Bonna Sabla from AXA Private Equity and other shareholders for an enterprise value of approximately €235m.
The combined group will be a major pan-European pre-cast concrete solutions provider in the Nordic region, France, the Netherlands, the Baltic countries and North Africa. It is expected to have combined sales of more than €1bn.
Consolis is a large manufacturer of prefabricated concrete elements. The company had net revenues of €646m in 2004 and employed approximately 5,100 people.
Bonna Sabla mainly operates in the public service markets such as water conveyance, sanitation, civil engineering, urban environment and railway sleepers. Bonna Sabla has significant business in France, Spain, the UK and North Africa. Turnover for 2005 is expected to be €400m. Bonna Sabla employs approximately 2,800 people.
The management team will be comprised of managers from both companies and headed by Philippe Milliet, currently CEO of the Bonna Sabla.
IK partner Christopher Masek said, 'The successful combination of the businesses will largely rely on the strong quality and complementary nature of both teams.'
IK manages close to €4bn in fund commitments. The firm's current portfolio encompasses 24 companies with a total turnover of close to €9bn.
A few days ago IK exited its investment in Dyno Nobel. A consortium led by Australia's Macquarie Bank bought the explosives maker for $1.7bn.
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